How To Forget Gambling Losses

Maybe try to look at it like this, it the way I fathom it.

Mar 26, 2014  Net gambling losses are one of the most overlooked deductions and should not be forgotten in your tax return, says Greg Rosica, Ernst & Young tax partner and author of the 'EY Tax Guide 2014'. Only gambling losses. The IRS does not permit you to simply subtract your losses from your winnings and report your net profit or loss. And if you have a particularly unlucky year, you cannot just deduct your losses without reporting any winnings. If the IRS allowed this, then it's essentially subsidizing taxpayer gambling.


First and foremost it is gone, no two ways about it.


Deductible gambling losses

Its like grieving for a lost relative...some people just can not come to terms with it. They will mourn for many weeks and months, get depressed, develop what seems to others a couldn't care less attitude lose the will to live even.


Others can accept and move on. Because they realise that the person is definitely gone, for some it may require counselling, to get them to be able to accept. But once they have accepted the person is gone they can get on with their own lives a lot better and progress through life.


When people cant fully accept the person is gone it will hamper so many things as they move forward in life.


It's not just a case of trying to forget..it is a case of accepting, which understandably dosn't just happen over night. At times we all need a hand to accept certain things.


Can gambling losses be deductible

2018 Gambling Losses

I have to accept for me its time to go to work so have to rush now, when I'd have liked to have written so much more.

Reporting Gambling Losses To Irs